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788 Brickell Plaza

Updated Mar 11, 2025

Trinity Investments & Certares Management Refinance East Miami Hotel For $185M
FINANCEDHotel

Trinity Investments & Certares Management Refinance East Miami Hotel For $185M

788 Brickell Plaza

$185,000,000

Building Size

—

Asset Type

Hotel

Closing

May 17, 2024

About this deal

AI

The East Miami hotel in Brickell, part of the $1.05 billion Brickell City Centre, has secured a $185 million refinancing deal. The property features 255 guest rooms, 97 suites, event space, and multiple pools, covering a total of 352 keys in the vibrant area of East Miami.

Summary of transaction details:

Trinity Investments and Certares Management obtained the $185 million refinancing with Deutsche Bank providing a $152.5 million senior loan and KSL Capital Partners offering the mezzanine portion. The deal was facilitated by Mark Owens from Colliers International, representing the involved parties in the transaction.

On the Map

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$185,000,000

Hotel

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Players

Mark Owens

Colliers

Broker

$246.5M

vol

2 deals

Broker
Deutsche Bank
Deutsche BankLender
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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.09%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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